In Bank of New York Case,
Money Trail Spans the Globe

By

Paul Beckett and

Ann Davis Staff Reporters of The Wall Street Journal

Updated Sept. 3, 1999 12:50 a.m. ET

NEW YORK -- Hundreds of corporate and individual accounts at dozens of banks across the globe were recipients of the estimated $10 billion that is the focus of a money-laundering investigation at Bank of New York Co., according to law-enforcement officials.

The accounts -- at institutions in the U.S., Germany, the United Arab Emirates, Turkey, Cyprus and elsewhere -- on some days received more than $100 million, underscoring that the...